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Dec 5, 2012
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interestingly this is the first move toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts are going to come from there. my 2013 predictions i said that group would slim down by half. interesting that they are cutting a big chunk of that group. global consumer banking is responsible for 35% of the cuts and then going on through the other business lines like citi holdings, those are responsible for smaller portion of those jobs. citi getting smaller. a billion dollars going to be the pretax charge in the fourth quarter of next year. 11,000 jobs a big move from the new ceo over there. carl? >> all right. thank you very much, kayla. we're reading through the release right now ourselves. big strategic move. >> how many people work at this ba
interestingly this is the first move toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts are going to come from there. my 2013 predictions i said that group...
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Dec 3, 2012
12/12
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where do you think vegas fits on that map, and what's the trajectory for the city on that front? >> it's the fastest growing part of everything we have been working on. two years ago, the vegas tech start-up scene was virtually nonexistent. and we've had several companies just ones i happen to know of, there's been ten tech start-up companies that relocated from other states to downtown vegas. so, for example, one of the companies is remotive. they make iphone-powered robots and moved to downtown vegas about a year ago, originally three people from seattle. they had considered silicon valley but then we recruited them to downtown vegas and now they're at about 20 people. and recently announced $5 million in funding from sequoia capital. so it's really happening here and it's pretty exciting to be part of it. >> yeah, and the city definitely needs it. that would be great if it could catch fire and sounds like it is. talk to me about retail. how did cybermonday go? how are you feeling about the season at large? there's been some discussion about how good the numbers looked overall
where do you think vegas fits on that map, and what's the trajectory for the city on that front? >> it's the fastest growing part of everything we have been working on. two years ago, the vegas tech start-up scene was virtually nonexistent. and we've had several companies just ones i happen to know of, there's been ten tech start-up companies that relocated from other states to downtown vegas. so, for example, one of the companies is remotive. they make iphone-powered robots and moved to...
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Dec 12, 2012
12/12
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sin city has fallen by a third for marriage as other cities like new york have become the place for quickie weddings. las vegas is hoping that 12-12-12 will bring in a huge number of couples looking to get hitched. 12 does denote love. >> the number 12? >> yes, just like 8 is good luck. >> riachel in laughlin has an estimate out this year that they could lose more attendees there for conventions. things are deteriorating. >> tonight on fast? >> we've got jon hilsenrath of the "the wall street journal" to help us sort out what dben bernanke is xwg to say today. and danny meyer from union square hospitality to talk about restaurant groups. >> i smell cooking segment. >> i hope so. >> see you a little later. big afternoon shaping up. if you just joined us, here's what you missed earlier this morning. >> welcome to hour three of "squawk on the street." here's what's happening so far. >> jp morgan is going to be fine. i'm not worried about jp morgan and the customers for united states of america and the global financial system. you must be opaque. you must go back to greenspan speak and say, lis
sin city has fallen by a third for marriage as other cities like new york have become the place for quickie weddings. las vegas is hoping that 12-12-12 will bring in a huge number of couples looking to get hitched. 12 does denote love. >> the number 12? >> yes, just like 8 is good luck. >> riachel in laughlin has an estimate out this year that they could lose more attendees there for conventions. things are deteriorating. >> tonight on fast? >> we've got jon...
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Dec 11, 2012
12/12
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the press conference taking place in new york city. there's richard anderson who has just taken the podium here in new york city. they're going to be announcing not only the outline of the terms of this deal but a little bit of the philosophy behind why delta is buying this stake. let's take a look at the terms of the deal. delta buying 49% stake in virgin atlantic. basically buying the singapore airline stake. that's $360 million is how much it's costing. the virgin atlantic brand remains. that's critical here. just a few minutes ago richard branson said ignore all the speculation that i'm going somewhere. i'm going nowhere. he plans to remain ceo of virgin atlantic. why is delta doing this? this is all about increasing exposure to the london market. specifically the slots at heath row. when you look at all the flights that are going to be added to the delta network through its alliance here with virgin atlantic from the new york market, this is very, very lucrative for delta. particularly when you're talking about the corporate custo
the press conference taking place in new york city. there's richard anderson who has just taken the podium here in new york city. they're going to be announcing not only the outline of the terms of this deal but a little bit of the philosophy behind why delta is buying this stake. let's take a look at the terms of the deal. delta buying 49% stake in virgin atlantic. basically buying the singapore airline stake. that's $360 million is how much it's costing. the virgin atlantic brand remains....
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Dec 18, 2012
12/12
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>> for citi, that's a good point. citi is not constrained to the united states. half of citi corp's revenues come in emerging markets. which growth may be slowing. it's an advantage i think inherent in the model. >> jason, i'm curious, your-very familiar with how the group trades. what happens to this group which has been on a massive run? what happens to the group should a fiscal cliff deal be reached? is it a news event for financials or will they rally? >> i think initially you probably get the rally. clearly they sold off post-the election on concerns, you know, when the fiscal cliff came to the forefront. now that talks are closer to a resolution, they're getting a lift. i expect to see a lift. there are still structural long-term issues that probably don't get decided in this round of negotiations that could weigh on the economy longer term. >> jason, we'll leave it there. good to see you. jason goldberg at barclays. >> kent kelly has details on insider trading. stick around to see who made greenberg's list of the worst ceos of 2012. as we go to break, we'l
>> for citi, that's a good point. citi is not constrained to the united states. half of citi corp's revenues come in emerging markets. which growth may be slowing. it's an advantage i think inherent in the model. >> jason, i'm curious, your-very familiar with how the group trades. what happens to this group which has been on a massive run? what happens to the group should a fiscal cliff deal be reached? is it a news event for financials or will they rally? >> i think initially...
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Dec 14, 2012
12/12
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>> the benefit to the city is if it's better for passengers, it's better for the city. >> how long do i have to stand with my arm out whilst taxis pass me with lights off? because someone hailed them halfway across manhattan? >> i think the main way people get taxis is the old-fashioned stick your hand in the air. especially during the day in midtown, downtown. i don't drivers will need this app to find passengers. there are plenty of passengers. this app will be most useful late at night, on the edges of the taxi service area. that way, a taxi knows there's somebody three, four blocks away. >> didn't they try this in the 1980s? wasn't it abandoned because it didn't work, because there weren't enough taxis to fulfill the plan to come through? >> in the old day, it was both by radio and street hail. then they created the black car and car service industry. but now, with technology, you can have a car do both of these, and they can figure out the most efficient way to operate themselves. you know, we think you let the market figure out what's the most efficient. >> you have to think, in
>> the benefit to the city is if it's better for passengers, it's better for the city. >> how long do i have to stand with my arm out whilst taxis pass me with lights off? because someone hailed them halfway across manhattan? >> i think the main way people get taxis is the old-fashioned stick your hand in the air. especially during the day in midtown, downtown. i don't drivers will need this app to find passengers. there are plenty of passengers. this app will be most useful...
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Dec 13, 2012
12/12
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of solar city lyndon rives is ceo and co-founder of the company. guys, great to see you. >> thank you for having us. >> lynn done, i will start it off with you this is a reduced offering, can you characterize what happened behind the scenes? did you see less demand for this offering and why the need to push this thing out of the gate right now? >> so, the fact that solarcity come out is quite amazing, it is best that we have a good product. we provide cheaper, cleaner energy. the solar sector has taken a beating and unfortunately, we have see received some of that but it is not based on today. it is based on what is the long term. and by us offering cheaper, cheaper electricity, you will see that fundamentally, that will change. >> all right. let's talk about long term then, because in your filing, you said that long-term growth is heavily dependent on government subdid sid disand clean energy policies and note the u.s. federal tax credit for solar projects with will fall 30% the cost of the system to 10% tend of 2016. >> i can't hear a word you're
of solar city lyndon rives is ceo and co-founder of the company. guys, great to see you. >> thank you for having us. >> lynn done, i will start it off with you this is a reduced offering, can you characterize what happened behind the scenes? did you see less demand for this offering and why the need to push this thing out of the gate right now? >> so, the fact that solarcity come out is quite amazing, it is best that we have a good product. we provide cheaper, cleaner energy....
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Dec 28, 2012
12/12
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do you go where the geographic reach is broadest like a city? your favorite picks are goldman, some of the big center maxim right? >> citi certainly has an advantage in its position internationally as asia picks up citi is going to pick up. they're well positioned for that. goldman sachs certainly the leader on the investment banking side. we would put them in a portfolio. you can buy goldman today at a price below what the partners could buy it back when it was a partnership. go with it. >> interesting. provocative prediction. good to see you. happy 2013. >> thank you. >> brad hintz. the post christmas rush for retailers. gift cards, returns, exchanges. jane wells will break it down a little later on and of course we'll get you down to the close in europe about 11 minutes away. drum and flute" n look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!!
do you go where the geographic reach is broadest like a city? your favorite picks are goldman, some of the big center maxim right? >> citi certainly has an advantage in its position internationally as asia picks up citi is going to pick up. they're well positioned for that. goldman sachs certainly the leader on the investment banking side. we would put them in a portfolio. you can buy goldman today at a price below what the partners could buy it back when it was a partnership. go with it....
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Dec 7, 2012
12/12
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only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> marijuana possession becoming legal under washington state law on thursday. for those who are 21 and older. as marijuana legalization supporters rejoice, marijuana still remains illegal under federal law of course and the white house is weighing the response of federal law enforcement on that front. steve fox is director of state campaigns and government relations for the marijuana policy project. he joins us this morning from washington. steve, good morning to you. >> good morning. thanks for having me. >> just so i know, are you high right now? we've had some people on television the last couple of days on various channels who admit not to be. >> right. i'm not. are you drunk? >> fair enough. i want to know where we're headed.
only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> marijuana possession becoming legal under washington state law on thursday. for those who are 21 and older. as marijuana legalization supporters rejoice,...
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Dec 10, 2012
12/12
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only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> i wanted to update our viewers on shares of hewlett-packard. you may have noticed one point eclipsing up 4.5% today. now taking off some of those gains, but still up almost 3%. a lot of chatter continues to be centered on the idea of potentially breaking the company up. some people would say you certainly do get a fairly big number. let's not forget it's not the hp of packard and hewlett. this argument continues to be out there. and then you'll start to hear rumors about a potential activist. let's not forget they already have an activist on the board of directors, ralph whitworth, owns a stake in the company and a director at this point. while we'll probably continue to hear this, i can tell you at this point that though it wil
only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> i wanted to update our viewers on shares of hewlett-packard. you may have noticed one point eclipsing up 4.5% today. now taking off some of those gains, but...
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Dec 27, 2012
12/12
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city budge let's constrained and city got to raise money and the state of i will sill in quite a parlance state itself. >> got to get the revenues from some state, guy he is. >>> talk about the weather here, the winter storm working across much of the nation, still causing headaches in the northeast, expected to dump one to two feet of snow in some parts of maine and surrounding states today. the weather channel's eric fisher is live in lewis ton, maine, with the latest. hi, eric. >> good morning, melissa. hi there, every ebb. snow coming down a few hours ago, now ernest across maine that will continue all day long, many states touched by this winter storm, maine will be the last one in the lower 48 this all started back in west texas, a white christmas in amarillo and lubbock, folks doing shoveling here this holiday week, notice the visibility starting to go down, traffic has been light, all of the state offices are close here in maine for today. across all of this state, vermont, new hampshire, new york, dealing with the wintery weather. if you are a traveler, certainly not any good new
city budge let's constrained and city got to raise money and the state of i will sill in quite a parlance state itself. >> got to get the revenues from some state, guy he is. >>> talk about the weather here, the winter storm working across much of the nation, still causing headaches in the northeast, expected to dump one to two feet of snow in some parts of maine and surrounding states today. the weather channel's eric fisher is live in lewis ton, maine, with the latest. hi,...